Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Boosts Stock Position in Watts Water Technologies, Inc. $WTS

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Watts Water Technologies, Inc. (NYSE:WTS) by 1,725.0% in the second quarter, Holdings Channel.com reports. The firm owned 1,533 shares of the technology company’s stock after purchasing an additional 1,449 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Watts Water Technologies were worth $377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Watts Water Technologies by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 78,159 shares of the technology company’s stock worth $15,938,000 after purchasing an additional 795 shares in the last quarter. KBC Group NV boosted its holdings in Watts Water Technologies by 0.5% during the 1st quarter. KBC Group NV now owns 324,669 shares of the technology company’s stock valued at $66,207,000 after acquiring an additional 1,662 shares during the period. GAMMA Investing LLC boosted its holdings in Watts Water Technologies by 80.5% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company’s stock valued at $57,000 after acquiring an additional 124 shares during the period. State of Alaska Department of Revenue boosted its holdings in Watts Water Technologies by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company’s stock valued at $653,000 after acquiring an additional 85 shares during the period. Finally, HB Wealth Management LLC purchased a new stake in Watts Water Technologies during the 1st quarter valued at about $259,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the transaction, the director owned 1,194 shares of the company’s stock, valued at approximately $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 8th. Weiss Ratings restated a “buy (b+)” rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Zacks Research cut Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 18th. Finally, Barclays assumed coverage on Watts Water Technologies in a report on Friday, September 19th. They set an “equal weight” rating and a $287.00 target price for the company. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $253.80.

Watts Water Technologies Trading Down 0.9%

WTS opened at $279.02 on Friday. The business has a 50 day simple moving average of $278.58 and a two-hundred day simple moving average of $251.25. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 3.37 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.59 and a quick ratio of 1.63. Watts Water Technologies, Inc. has a one year low of $177.59 and a one year high of $287.89.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.41. The business had revenue of $643.70 million during the quarter, compared to analyst estimates of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.Watts Water Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.46 EPS. Analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is currently 22.37%.

Watts Water Technologies Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.